Pace Digitek debuts with modest gains; misses grey market expectations

Pace Digitek share price: Pace Digitek shares listed at ₹226.85 on the BSE and ₹225 on the NSE, compared to the issue price of ₹219 per share

Pace Digitek IPO listing: Shares of multi-disciplinary solutions provider Pace Digitek made a positive debut on Dalal Street on October 6, following the successful completion of its initial public offering, through which it collected ₹819.15 crore from the markets.

 

Pace Digitek shares listed at ₹226.85 per share on the BSE, reflecting a premium of ₹7.85 per share or 3.58 per cent over the issue price of ₹219 per share.

 

On the National Stock Exchange, Pace Digitek shares began trading at a premium of ₹6 per share or 2.74 per cent at ₹225 per share. 

Pace Digitek IPO listing fell short of grey market estimates. Ahead of their debut on the exchanges, the unlisted shares of Pace Digitek were changing hands at around ₹231 each, implying a grey market premium (GMP) of ₹12 or approximately 5.48 per cent over the issue price, according to sources tracking unofficial market activities.  ALSO READ | Morgan Stanley, Nomura, LIC bet big on Tata Capital IPO; should you apply?

Pace Digitek IPO details

The maiden offering of Pace Digitek, which comprised an entirely fresh issue of 37.4 million equity shares, was available at a price band of ₹208–₹219 per share with a lot size of 68 shares. The subscription window was open from September 26 till September 30.

 

The public offering received decent demand and was oversubscribed by 1.59 times. The basis of allotment for Pace Digitek IPO shares was finalized on October 1, with the issue price set at ₹219 per share.

 

As outlined in its Red Herring Prospectus (RHP), Pace Digitek will utilise the proceeds from the public issue for funding capital expenditure requirements as well as for general corporate purposes.

 

MUFG Intime India served as the registrar of the issue, while Unistone Capital was the sole book-running lead manager.  ALSO READ | Canara Robeco AMC sets IPO price band at ₹253-266; Canara, ORIX to divest

About Pace Digitek

Pace Digitek Ltd (PDTL) is a technology-driven company engaged in providing IT solutions, digital services, and system integration offerings. The company focuses on software development, digital transformation, IT infrastructure services, cloud solutions, and managed services tailored for enterprises. It serves clients across sectors such as banking, telecom, manufacturing, and government organizations, helping them modernize their processes through innovative tech solutions. The company emphasizes digital consulting, product engineering, enterprise mobility, and cybersecurity solutions, while also working on emerging technologies like AI, IoT, and data analytics to strengthen its service portfolio.